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Rare: Fully Occupied 3-Tenant Retail 347 Sanford Ave 2,495 SF 100% Leased Retail Building Newark, NJ 07106 $599,999 ($240.48/SF) 6.69% Cap Rate
Investment Highlights
- Renovated in 2021 with Stable In-Place Income
- Value-Add Retail Asset in Newark Growth Corridor
- Immediate Cash Flow from Day One
- 100% Occupied | 3 Tenants
- High-Yield Retail Investment
Executive Summary
347 Sanford Avenue is a fully occupied, income-producing retail property in Newark, NJ, offering an attractive opportunity for investors. The single-story, multi-tenant building spans 2,495 square feet and houses three units: two retail storefronts and one restaurant, all occupied by great, reliable tenants. Originally built in 1917 and renovated approximately five years ago, the property combines classic character with modern updates.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Convenience Store
Building Size
2,495 SF
Building Class
C
Year Built/Renovated
1917/2021
Price
$599,999
Price Per SF
$240.48
Cap Rate
6.69%
NOI
$40,146
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.89
Lot Size
0.06 AC
Zoning
B-1 - Neighborhood Business
Frontage
51’ on Sanford Avenue
Very walkable
80/100
Moderately drivable
60/100
Some public transit
50/100
Fairly bikeable
50/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 14-04191-0000-00008 | Improvements Assessment | $217,800 |
| Land Assessment | $88,000 | Total Assessment | $305,800 |
Property Taxes
Parcel Number
14-04191-0000-00008
Land Assessment
$88,000
Improvements Assessment
$217,800
Total Assessment
$305,800
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Rare: Fully Occupied 3-Tenant Retail | 347 Sanford Ave
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